Whitbread : Spin-off of Costa: imperative to optimise the two business models
The long awaited spin-off of Costa will create two sector leaders in the UK. However, a number of questions persist, essentially on the hotel activity’s capacity to finance its costly growth alone and the possibility of, or need to, resort to asset management. In spite of this, the stock’s risk/reward profile looks attractive given the catalysts and a valuation that is relatively low compared with peers. Buy recommendation and target price of 4,900p maintained - - >A welcom...Whitbread is a hospitality company. Co. serves its customers in the U.K. and beyond through its two businesses: Premier Inn and Restaurants; and Costa. Premier Inn is a hotel business, with over 760 hotels and more than 68,000 rooms as of Mar 2 2017. Co.'s hotel are located alongside its own restaurant brands. Co. also have hotels in the Middle East, and Germany, with more hotels in the pipeline. Costa is the coffee shop, with over 2,200 coffee shops in the U.K., over 1,300 stores in 29 international markets and over 6,800 Costa Express self-serve units as of Mar 2 2017.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.